A leading organization utilizing Resware, an internal application for managing the closing process, document classification, and data management in a highly complex environment.
The modern business world is volatile owing to rising competition, technological disruptions, and business model innovations. To mitigate uncertainty and remain competitive, organizations need to make prudent decisions. Forecasting enables keen insight into the future and is necessary for business decisions as diverse as inventory planning, production planning, capital expenditure allocation, workforce planning, etc. The wide-ranging impact and need for it in various domains make forecasting software an essential business asset.
A leading home goods store chain was struggling with reduced ROI due to excess inventory caused by inaccurate demand forecasting. These inefficiencies in their supply chain were impacting profitability and operational agility, prompting the need for a next-gen forecasting solution.
The client is a leading gold and diamond jewelry company with a legacy spanning over five decades. Operating approximately 100 showrooms across 72 cities and towns in India, the company is a prominent player in the jewelry retail industry. They aspired to create a unique and engaging shopping experience by leveraging augmented reality (AR) technology to enhance customer satisfaction and differentiate themselves in the competitive market.
ICSC is the world’s largest retail real estate trade association, rebranded in 2021 as Innovating Commerce Serving Communities. The organization supports experiential marketplaces and fosters professional connections, transactions, and growth across the retail real estate industry.
Today’s tech-driven world is all about automation. Almost every industry is reaping its benefits in one way or another and making its business more productive and efficient. One form, in particular, is making headlines across the globe and it is known as Intelligent Process Automation (IPA).
According to Gartner, IPA sits at the top of the list of the highest-ranked enterprise software and the spending on it is constantly increasing as well. Organizations are leveraging their efficiencies to enable digital transformation to achieve the desired business objectives.
One thing organisations have learnt in the wake of the recent disruptions is that constantly revamping digital prowess is vital for long term business success. Human-machine collaboration is essential to run operations seamlessly. While machines take care of repetitive tasks, humans utilize augmented intelligence technologies like Cognitive RPA to make important decisions.
The spreadsheet-based manual forecasting approach that is still used in many retail organizations is not suitable for staying ahead of the competition and improving their bottom line. Manual adjustments of forecasts in this method leave all inventory spend decisions to human judgement, which pushes towards generalized decisions rather than going with product, vendor, and market-specific indicators.
